American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 640,029 shares of the company’s stock after buying an additional 19,081 shares during the period. Principal Financial Group Inc. owned about 0.12% of American Electric Power worth $65,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of American Electric Power during the 1st quarter valued at about $1,731,000. Mizuho Markets Americas LLC boosted its stake in American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after purchasing an additional 226,435 shares during the period. ProShare Advisors LLC lifted its stake in shares of American Electric Power by 21.7% in the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after acquiring an additional 103,771 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of American Electric Power by 60.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock worth $4,285,000 after acquiring an additional 18,726 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of American Electric Power by 17.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 664,304 shares of the company’s stock worth $57,197,000 after acquiring an additional 96,645 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $96.40 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.48. American Electric Power Company, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The firm has a fifty day moving average price of $100.51 and a two-hundred day moving average price of $94.87. The company has a market cap of $51.30 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.74 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 70.54%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AEP shares. UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday. Guggenheim upped their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Jefferies Financial Group started coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.27.

Read Our Latest Stock Analysis on American Electric Power

American Electric Power Company Profile

(Free Report)

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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